Politics may have crashed WBHO asset sale
The potential acquirer of the group’s Australian construction units received advice its investment would be rejected on security concerns
11 January 2021 - 14:08
UPDATED 11 January 2021 - 23:09
Wilson Bayly Holmes-Ovcon (WBHO), one of the few construction companies left standing during an industry-wide slump in SA, could be caught up in a diplomatic and trade feud between China and Australia.
WBHO said the $200m (R3bn) sale of its 88% stake in Australian unit Probuild fell through because the buyer received advice that the Australian government would reject the deal on national security grounds...
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